aicpa财务会计与报告（far）secured transactions

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1、RegulationModule26:SecuredTransactionsInstructor:Helen08/16/20091M26SecuredTransactionsA.ScopeofSecuredTransactionsB.AttachmentofSecurityInterestsC.PerfectingaSecurityInterestD.PrioritiesE.RightsofPartiesuponDefaultF.OtherRightsofParties2A.ScopeofSecuredTransactions3AScopeofSecuredTransactions1.De

2、finitionsa)SecuredTransactionsByattachmentorbyperfectionAdebtsecuredbycollateralb)SecuredInterestRightofcreditortorepossessthecollateralupondefaultc)SecuredAgreementTransactionthatcreatessecurityinterestd)AttachmentCreditorvs.DebtorCreditorhassomerighttotakethecollateraltosatisfydebtifthedebto

3、rdefaultse)PerfectionCreditorvs.3rdPartiesCreditorhassuperiorrightsinthecollateraltocertain3rdpartiesthatalsohavesecurityinterestinthesamecollateral2.AnyCreditorcanbeasecuredparty4AScopeofSecuredTransactionsAtypicalSecuredTransactionScenarioLendsmoneyStep1DebtorBankPromisestorepaytheloanStep2Pled

4、ge,controlorcreateSecurityAgreementAttachment.Ifdebtordefaults,creditorcantakethecollateral,butifprobablynotif3rdpartieshaverightsinthesamecollateralStep3FileFinancingStatementPerfection.Ifdebtordefaults,creditorwillhaverightstothecollateralagainstboththedebtorandmost3rdparties5AScopeofSecuredTran

5、sactions3.TypesofCollaterala)PersonalPropertyb)FixturesPersonalpropertyattachedtorealpropertyc)InvestmentPropertyex.Stocks,Bonds,MutualFundsd)A/Re)PromissoryNote(N/R)6B.Attachment7BAttachmentCreditorvs.Debtor1.Thereare3ElementsofAttachmentimportanta)Valuemustbegivenbythesecuredpartyinexchangeforth

6、esecurityinterestb)Thedebtorhasrightsinthecollateralc)Either:Pledge=thecreditor¡stakingpossessionorcontrolofthecollateralSecuredpartyhas¡control¡overcollateralifitisinvestmentpropertySecurityagreement=signedinwrittenformorauthenticatedinelectronicform2.AfterAcquiredPropertyClausea)Securityinter

7、estwillalsobeobtainedinadebtor¡sfuturepropertyb)MostoftenusedwithinventoryandequipmentConsumergoodsalsookayc)Securityinterestattachestothepropertyassoonasthedebtoracquiresaninterestintheproperty8BAttachmentCredit